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Nov 28, 2012
11/12
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KGO
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the stock market, $6 trillion in tax increases, $1.2 trillion in deep spending cuts. for the average middle class family, $2,200 in higher taxes. >> that would be a hard christmas holiday for all the members of congress to face if they do that. >> absolutely. >> okay, jake tapper, good to have you in new york. >> thank you. >>> and we head now to the middle east tonight to tahrir square the birthplace of the spring in egypt almost two years ago and once again egyptians are protesting this time trying to hold on to their democracy during a turbulent november. and abc's alex marquardt was on the scene in cairo today. >> reporter: the birthplace of egypt's revolution today once again ringing with calls for the downfall of a dictator. [ speaking a foreign language ] >> reporter: this time it's for this man, president mohammed morsi whom america relies on to be a regional peace broker. it has led to days of bloody clashes. the crowed is chanting erhal, or leave. these are many of the same chants we heard two years ago during the revolution, except that they've substituted
the stock market, $6 trillion in tax increases, $1.2 trillion in deep spending cuts. for the average middle class family, $2,200 in higher taxes. >> that would be a hard christmas holiday for all the members of congress to face if they do that. >> absolutely. >> okay, jake tapper, good to have you in new york. >> thank you. >>> and we head now to the middle east tonight to tahrir square the birthplace of the spring in egypt almost two years ago and once again...
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Nov 29, 2012
11/12
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KGO
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will lawmakers send americans off the fiscal cliff with a huge tax increase? the president asks middle class people to help make his case for action. >>> triple threat. three big storms, one after the other, about to pound the west coast. >>> and, made in america. do you want to make a difference, creating american jobs? david muir tonight shows us how to do it together for a happy holiday. >> we're in! >> we're in! >>> good evening. right now, millions and millions of americans are lining up to take a chance on a giant dream. a powerball ticket that could be worth more than half a billion dollars. the biggest in its history. the drawing is tonight. and some people have been willing to wait 2 1/2 hours in the long lines in arizona, while coast to coast, tickets are flying across the counters, 130,000 sold every minute. and that adds up to 7 million tickets sold every hour. so, we asked abc's steve osunsami to make his way into the vault where the lottery balls are kept under lock and key and tell us about all the americans hoping tonight is their night. >> rep
will lawmakers send americans off the fiscal cliff with a huge tax increase? the president asks middle class people to help make his case for action. >>> triple threat. three big storms, one after the other, about to pound the west coast. >>> and, made in america. do you want to make a difference, creating american jobs? david muir tonight shows us how to do it together for a happy holiday. >> we're in! >> we're in! >>> good evening. right now, millions...
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Nov 28, 2012
11/12
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KGO
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if no deal is reached, and taxes go up, most financial advisers say that could cost the winner millions. >>> and with that fiscal cliff ahead, president obama is mounting a full-court press, making his case for higher taxes on wealthier americans, even as critics accuse him of being back in campaign mode. he'll meet today with mittle-class meshes who taxes will go up if there's no deal by the end of the year. and he talked to high-powered ceos about cutting the nation's deficit. >>> susan rice, who is the front-runner to be the next secretary of state, is back to capitol hill for more meetings with some of her harshest critics. the topic this time, her comments after the attack on the consulate in libya on september 11th. tahman bradley has the latest from washington. >> reporter: u.n. ambassador susan rice faces more tough diplomacy on capitol hill. rice is the leading candidate for secretary of state in president obama's second term. but prominent gop lawmakers are trying to stop her from getting the post. saying she misled the public about the attack on the consulate in libya. in mee
if no deal is reached, and taxes go up, most financial advisers say that could cost the winner millions. >>> and with that fiscal cliff ahead, president obama is mounting a full-court press, making his case for higher taxes on wealthier americans, even as critics accuse him of being back in campaign mode. he'll meet today with mittle-class meshes who taxes will go up if there's no deal by the end of the year. and he talked to high-powered ceos about cutting the nation's deficit....
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Nov 24, 2012
11/12
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FOXNEWSW
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so, that's what we could give more tax cuts, more tax breaks to corporations, that create these job training programs. >> okay, and i can't believe i'm listening to this, rick. >> rick: less than a minute, go ahead and respond. >> okay, but poor people in this country have it too good and we need to give tax cuts to corporations. >> that's not what i said. >> that's exactly what you said. >> that's not what i said. >> and when we've never had this big a gap between the rich and middle class in this country we need to look at reforming corporate welfare not getting poor people-- >> angela do you want to respond to this before we run out of time. >> now what it's sad that liberals want to treat the poor as second class citizens keep them on the federal plantation, just come vote for us and get a free check. give people a job to give them integrity and dignity. >> rick: angela. >> people are looking for jobs right now. 8% unemployment almost. >> rick: this started off really, really nicely somewhere along the lines we went off the rails a little bit, but we have a couple more weeks to talk abou
so, that's what we could give more tax cuts, more tax breaks to corporations, that create these job training programs. >> okay, and i can't believe i'm listening to this, rick. >> rick: less than a minute, go ahead and respond. >> okay, but poor people in this country have it too good and we need to give tax cuts to corporations. >> that's not what i said. >> that's exactly what you said. >> that's not what i said. >> and when we've never had this big a...
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Nov 24, 2012
11/12
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FOXNEWSW
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tax loopholes. speaker boehner says i'm willing to break it and do the latter on deductions and exemptions and saxby chambliss the senator said it's time to ditch grover and his pledge, is it? >> all bets are off. i mean, listen, we're in a mess and all bets are off and we shouldn't be held to political organizations that are influencing our elections in terms of getting this mess taken care of, but you know, listen, i have a novel idea for the president. why doesn't he public size an itemized list of his spending cuts he's prepared to put on the table before asking american people to pay taxes. i mean, it's simple. when you have a credit card debt and you don't ask other people to pay for it or you don't borrow money to pay the interest on it, you make hard choices on your discretionary spending from a weekly basis or a monthly basis, this is just a business that's been run poorly and it's-- >> would you agree the president doesn't have a terribly good track record when it comes for proposals for b
tax loopholes. speaker boehner says i'm willing to break it and do the latter on deductions and exemptions and saxby chambliss the senator said it's time to ditch grover and his pledge, is it? >> all bets are off. i mean, listen, we're in a mess and all bets are off and we shouldn't be held to political organizations that are influencing our elections in terms of getting this mess taken care of, but you know, listen, i have a novel idea for the president. why doesn't he public size an...
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Nov 29, 2012
11/12
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MSNBCW
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taxes by one means or another. so i certainly agree with him on that. and i believe the president has a high degree of resolve about that, too. so i'm all for that. >> the book is "tap dancing to work warren buffett on practically everything" the oracle of omaha. we appreciate you're coming on today. look forward to seeing you soon. >> thank you for having me. >>> two nfl players leaving lucative contracts behind in search of something higher, their story next on "andrea mitchell reports." a hybrid? most are just no fun to drive. now, here's one that will make you feel alive. meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepower than prius v, a hybrid that c-max also bests in mpg. say hi to the all-new 47 combined mpg c-max hybrid. i'd like to thank eating right, whole grain, multigrain cheerios! mom, are those my jeans? [ female announcer ] people who choose more whole grain tend to weigh less than those who don't. mu
taxes by one means or another. so i certainly agree with him on that. and i believe the president has a high degree of resolve about that, too. so i'm all for that. >> the book is "tap dancing to work warren buffett on practically everything" the oracle of omaha. we appreciate you're coming on today. look forward to seeing you soon. >> thank you for having me. >>> two nfl players leaving lucative contracts behind in search of something higher, their story next on...
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Nov 27, 2012
11/12
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KPIX
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revenue, but that doesn't mean they support raising tax rates for the wealthy. they support instead, scott, limiting tax deductions for the rich. >> pelley: nancy, thank you. let's run to the other end of pennsylvania avenue where we find chief white house correspondent major garrett. major, what's going on there? >> reporter: scott, the president has asked tim geithner to lead up his fiscal cliff negotiations with congressional republicans. that's a nod to republicans because they prefer geithner over the president's chief of staff jack lew who republicans believe is stridently opposed to big changes to health care entitlements like medicare and medicaid. white house officials insist though geithner will be in the lead, jack lew won't be far from the fiscal cliff talks. >> pelley: major, what is the white house willing to put on the negotiating table? >> scott, just about everything except social security. the president argues that social security is not driving the deficit problem. it has solvency issues of its own but the president wants those dealt with down
revenue, but that doesn't mean they support raising tax rates for the wealthy. they support instead, scott, limiting tax deductions for the rich. >> pelley: nancy, thank you. let's run to the other end of pennsylvania avenue where we find chief white house correspondent major garrett. major, what's going on there? >> reporter: scott, the president has asked tim geithner to lead up his fiscal cliff negotiations with congressional republicans. that's a nod to republicans because they...
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Nov 28, 2012
11/12
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KPIX
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will the tax deduction for your mortgage be sacrificed to fix the federal budget? nancy cordes and dean reynolds look at the proposals. elizabeth palmer shows us what a dictatorship doesn't want you to see: the ruin of a nation in civil war. and africa's mighty elephants are slaughtered for their tusks. so who's buying that illegal ivory? holly williams shows us in a hidden camera investigation. >> oh, wow. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. today susan rice had high hopes for what might have been the most important diplomatic mission of her career so far. but the u.s. ambassador to the united nations' attempt to reach agreement with republican senators today failed. rice is a favorite of the president's to be nominated as secretary of state to replace hillary clinton. if he does nominate race, she would have to be approved by the senate. margaret brennan is covering for us tonight. margaret? >> reporter: good evening, scott. ambassador rice asked for the meetings on capitol hill today in hopes of
will the tax deduction for your mortgage be sacrificed to fix the federal budget? nancy cordes and dean reynolds look at the proposals. elizabeth palmer shows us what a dictatorship doesn't want you to see: the ruin of a nation in civil war. and africa's mighty elephants are slaughtered for their tusks. so who's buying that illegal ivory? holly williams shows us in a hidden camera investigation. >> oh, wow. captioning sponsored by cbs this is the "cbs evening news" with scott...
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Nov 21, 2012
11/12
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FBC
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tom: raise taxes. it think they have somebody, but the semantics are the speaker is echoing mitt romney's comments about raising revenues. but the union folks are saying, we want to raise tax rates. big difference. >> i don't know if they can get that through. eighty-seven members of congress reelected two years here with a solemn promise that they're not going to vote for any kind of tax increase. get them to vote for some kind of major tax rate increase. a just and see how you can do it >> it's an argument that you would think somebody in the math department would be held to figure out because republicans say the lower raes and revenues go up. we have history to show that. democrats say the opposite. >> and you stimulate your economy. if you raise rates anddon't cut expenditures, what you are doing is making the fiscal problem that much worse. raising rates is aonetime revenue grab. expenditures is a long-term reduction in. and the reality is, wehave to do a lot more of expenditure reduction than we
tom: raise taxes. it think they have somebody, but the semantics are the speaker is echoing mitt romney's comments about raising revenues. but the union folks are saying, we want to raise tax rates. big difference. >> i don't know if they can get that through. eighty-seven members of congress reelected two years here with a solemn promise that they're not going to vote for any kind of tax increase. get them to vote for some kind of major tax rate increase. a just and see how you can do it...
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Nov 22, 2012
11/12
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FBC
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toys "r" us.com, we collect sales tax. so do all of them at this company. what the loophole has been is the only companies that have not been collecting sales tax, it looks like it's imminent. >> will that be good, that level of the playing field? >> everyone admits, includi companies that there should be a level playing field. it's so interesting because i did talk about the good old days. i don't know that the internet has lived up to the hype, but only now when i look at these earnings reports that the traction that we see, certainly i don't know that it will put brick-and-mortar businesses out. you think that will happen now? is that the inevitable part of retailing? >> i don't view it as one or the other. the model of the future for retail is the only channel model. the superior channel is where you have internet as well. customers want to relate to the brand. at toys "r" us, there are 81 different ways you can do business with us. you can wear on your cell phone. you can go pick it up in the store. you can fight your home. you can go in the store and
toys "r" us.com, we collect sales tax. so do all of them at this company. what the loophole has been is the only companies that have not been collecting sales tax, it looks like it's imminent. >> will that be good, that level of the playing field? >> everyone admits, includi companies that there should be a level playing field. it's so interesting because i did talk about the good old days. i don't know that the internet has lived up to the hype, but only now when i look...
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Nov 23, 2012
11/12
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FBC
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they don't like the tax penalty for it. would you give them a tax holiday? you have to put it to use and do something? >> they tried that in 2004 and they brought back hundreds of villains. they put the murders and bonuses and what we have to do is recognize the president obama is not an economic dictator. the federal reserve can bring interest industry rates much lower. so we have to go to these two other areas are overwhelming support of inflation adjusted minimum wage. >> i'm not alone in an environment like this, how are you going to compel businesses, fast food joints and the rest, but it's in there interest to raise the rates when they are barely getting by as it is just as henry ford did back before world war i to $5. he said he wanted people to buy the cards. that's what you got to do. neil: so what about substance of the country where they have jobs with $10 an hour. were people really aren't jumping on these jobs. where we have a country where help wanted advertising is at an all-time high. a lot of people, for whatever reason, it are having troubl
they don't like the tax penalty for it. would you give them a tax holiday? you have to put it to use and do something? >> they tried that in 2004 and they brought back hundreds of villains. they put the murders and bonuses and what we have to do is recognize the president obama is not an economic dictator. the federal reserve can bring interest industry rates much lower. so we have to go to these two other areas are overwhelming support of inflation adjusted minimum wage. >> i'm not...
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Nov 27, 2012
11/12
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FBC
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neil: it would be a tax, a climate tax, really? >> no,. neilwhat do you doll th call mog crazed. >> we have promised to give to global climate fund. neil: if you are paying that money, that is more money than you pay now, so, -- -- what it is a dessert. >> part of our shared responsibility? we have a responsibility. neil: you dot call that a tax? >> it's not a tax. >> what it is. >> a shared responsibility. neil: if you force me to giv you money, i don't have to call it a tax, but it sure as hell will feel like a tax. >> you are giving me the money, i'm not forcing you to give me the money, it is in our shared interest to give me that. neil: you tell that to the wealthy countries, you think they will go along, and say she is absolutely right. >> if they were smart, they would. >> what do you say 10 years from now, are still a young woman i will belong retired, but, 10 years, and it has not done squat. you say oh, my god, it is all wrong. >> it won't, because investment will be worth a -- it will payoff. without these countries, adapting it
neil: it would be a tax, a climate tax, really? >> no,. neilwhat do you doll th call mog crazed. >> we have promised to give to global climate fund. neil: if you are paying that money, that is more money than you pay now, so, -- -- what it is a dessert. >> part of our shared responsibility? we have a responsibility. neil: you dot call that a tax? >> it's not a tax. >> what it is. >> a shared responsibility. neil: if you force me to giv you money, i don't have...
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Nov 29, 2012
11/12
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FBC
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he raised taxes 6 billion. he didn't go to voters without doing everything he could to make pension reform changes or substantial cuts. i'm not sure that happened in washington. i do not believe this is open door policy and every tax will be passed. people said this is one-time important event. cutting universities in particular will threaten our innovation. neil: i never buy temporary. i never buy temporary, do you? >> seven years temporary? neil: i worry about that we can argue over that. my point is the fiscal cliff will be avoided if both parties realize that america's survival depends on them giving up something important to them. neil: but if only one side gives up, governor, that's what i worry about. >> there won't be a deal. there won't be a deal if only one side gives up. neil: well that is a point. where do we go the end. year and it goes kablooey. is it the end of the year? >> it will be and a recession will ensue. neil: do you think democrat might secretly want that? >> well, if so, i don't want it
he raised taxes 6 billion. he didn't go to voters without doing everything he could to make pension reform changes or substantial cuts. i'm not sure that happened in washington. i do not believe this is open door policy and every tax will be passed. people said this is one-time important event. cutting universities in particular will threaten our innovation. neil: i never buy temporary. i never buy temporary, do you? >> seven years temporary? neil: i worry about that we can argue over...
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Nov 21, 2012
11/12
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FBC
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happens to the dividend stocks, when taxes on dividends decrease. cheryl: we have seen it the day after the election there was a flight away from dividend paying stocks. is there a subgroup that you like that you would like to protect us? >> they're not a lot of places to hide because a lot of the return is driven by dividend paying stocks. i think the way to think about it is what happened the last time the rates went up by dividend stocks. it had been when president clinton came into office. what happened to the market over the next 10 years, returning 9.3% per year. the macro environment is much more important than the tax environment. when president bush lowered the tax rate in 2003 the annualized return for the next decade through yesterday, 6.3% per year. cheryl: 40% of returns aren't taxed, many are in it for the long haul going long-term. you have the income disparity. 250 and above, that does not mean everyone. >> that is a great point. they're not sensitive to race. the dividend stocks were sold down because of taxes, lot of people going t
happens to the dividend stocks, when taxes on dividends decrease. cheryl: we have seen it the day after the election there was a flight away from dividend paying stocks. is there a subgroup that you like that you would like to protect us? >> they're not a lot of places to hide because a lot of the return is driven by dividend paying stocks. i think the way to think about it is what happened the last time the rates went up by dividend stocks. it had been when president clinton came into...
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Nov 23, 2012
11/12
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FBC
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what will my tax rate look like next year? what will regulation look like? what will regulation look like? do you have the same concerns? >> i have the same concerns and we have to do something. it is not an option. this is not republican or democrat problem but an american problem and israel. we don't do something about this before december, that is when you will start toosee consumers start to question leadership in washington. i don't think that is the case. i think our leadership in washington is focused -- we know who's going to be running the country and who is going to be running the house. now that that is behind us everyone can focus on reaching across the aisle and compromise and have to make progress on this fiscal cliff. i think that is important for business right now. the consumer has not focused on this but they will if we don't address it. i am confident we are going to address it in the next few weeks. cheryl: you are director of the new york fed, national retail federation, and macy's, perfect question for you. if there's one thing the admi
what will my tax rate look like next year? what will regulation look like? what will regulation look like? do you have the same concerns? >> i have the same concerns and we have to do something. it is not an option. this is not republican or democrat problem but an american problem and israel. we don't do something about this before december, that is when you will start toosee consumers start to question leadership in washington. i don't think that is the case. i think our leadership in...
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Nov 23, 2012
11/12
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FBC
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for republicans that means revenue through tax reform. for democrats that means entitlement and spending changes and unions are saying no way to any type of changes for medicare, medicaid and social security, launching a lobbying and ad campaign targeting democratic and republican lawmakers in pennsylvania, missouri, virginia and releasing a statement saying we cannot cut our way to job creation. balance the budget at the expense of the middle class and destroy programs that provide economic security for millions of americans. one conservative says these groups that telling the president what he already believes. >> he likes the read transfer of income from one group to another under government control. he is for that. he did not fix the unsustainable entitlement programs. >> we are early in the negotiating process and democrats have shown a willingness to discuss and unchangeds which makes these labor unions nervous. dave: even though retail sales were down our next guest says we will see an improvement in holiday season sales this year.
for republicans that means revenue through tax reform. for democrats that means entitlement and spending changes and unions are saying no way to any type of changes for medicare, medicaid and social security, launching a lobbying and ad campaign targeting democratic and republican lawmakers in pennsylvania, missouri, virginia and releasing a statement saying we cannot cut our way to job creation. balance the budget at the expense of the middle class and destroy programs that provide economic...
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Nov 26, 2012
11/12
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FOXNEWSW
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eye 395
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republicans are resisting the idea that inleasing tax rates on the wealthy will steer the country away from the fiscal cliff even though suspects insist it will. >> i would be very much opposed to raising tax rates, but i believe that we can close a lot of lop holes. >> they have to go up, real or effective tax rates, there are ways of doing this and secondly, we have to gross loopholes. >> lindsey graham is okay with new revenue and willing to cap deductions to get it, but only if democrats agree to reform entitlements like social security and medicare. >> i don't expect the democrats to go for premium ouci do expect them to adjust these entitlement programs before they bankrupt the company. some entilement reform is okay with illinois democratic senator dig durbin, but thinks that social security should be left alone. >> social security does not add one penny to our debt. not a penny. it's a separate funded operation and we can do things and i believe we should, smaller things played out long-term that give it solvency. >> and congressman peter king says nobody will get all they want
republicans are resisting the idea that inleasing tax rates on the wealthy will steer the country away from the fiscal cliff even though suspects insist it will. >> i would be very much opposed to raising tax rates, but i believe that we can close a lot of lop holes. >> they have to go up, real or effective tax rates, there are ways of doing this and secondly, we have to gross loopholes. >> lindsey graham is okay with new revenue and willing to cap deductions to get it, but...
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439
Nov 22, 2012
11/12
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FOXNEWSW
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relief act that i've talked about for weeks that expires at the end of the year that could be major tax consequences to homeowners in america, hopefully congress will extend it which will recover if they do. in this case, you need to get somebody to look at it, talk to competent realtors. see if a short sale is something that's viable. if it is, you got nothing to lose as long as you get that waiver of deficiency. >> good news there. nancy from savannah, georgia. city bank has put us into foreclosure and now we received notice that freddie mac owns the property. what does this mean for us moving forward? we also have a second mortgage. >> freddie mac really doesn't own the property. they probably don't understand. freddie mac, fannie and freddie owns the loans. city is servicing the loan for freddie mac in this situation. so if there is a foreclosure, it won't be freddie mac that's foreclosing. it will be city that is servicing the loan for freddie that will foreclose on the property. if the foreclosure takes place, that second mortgage will go away almost -- when i say go away, unsecur
relief act that i've talked about for weeks that expires at the end of the year that could be major tax consequences to homeowners in america, hopefully congress will extend it which will recover if they do. in this case, you need to get somebody to look at it, talk to competent realtors. see if a short sale is something that's viable. if it is, you got nothing to lose as long as you get that waiver of deficiency. >> good news there. nancy from savannah, georgia. city bank has put us into...
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Nov 27, 2012
11/12
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FOXNEWSW
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fdr raised taxings. president obama is going to raise taxes. many of the big themed policies of the first term of fdr were implemented in the second term. same with president obama and think obama care and financial reform . attacking wall street as the villian. president roosevelt did that . wall street was the villians and shades of that exactly. 2013 president obama wall street is the villiage and then the rearrangement of society. fdr tried to do it. and president obama is doing it and run away government spending. parallels are there and hope it doesn't work out like it did then. >> we want all americans back to work. and back in the 30s industrial plummeted 34 percent in the first year of the second term. >> that is a depression in and of itself . set in the overall depression of the 1930s. 1937 was a catastrophic year. >> steve: how did thereat look some >> not much better. what bailed america and the world out of the depression was the second world war. >> gretchen: exactly. how did you get out of the mess in the 30s. we don't want to p
fdr raised taxings. president obama is going to raise taxes. many of the big themed policies of the first term of fdr were implemented in the second term. same with president obama and think obama care and financial reform . attacking wall street as the villian. president roosevelt did that . wall street was the villians and shades of that exactly. 2013 president obama wall street is the villiage and then the rearrangement of society. fdr tried to do it. and president obama is doing it and run...
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Nov 29, 2012
11/12
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FOXNEWSW
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tax dollars, tax dollars, tax dollars, are being spent on facelifts and liposuction for teachers. the total bill this past year, ready for this? $2.7 million. now that is down from the year before, which was $5.2 million. how does this happen? well, it turns outs the perk is included as a ride he were in the teachers' contract, and that's raising big questions about unions and collective bargaining. we're back with our political panel. this is byron york's favorite story of the night. byron? >> this story blew my mind. it goes back to a contract that was ratified in the 1970s, when unions were getting about everything they wanted. the schools were giving unions everything they wanted. and plastic surgery was not as common at the time. what's happened is, it stayed in the contract, and teachers began, and employees began, using it more. now they haven't had a new contract since 2004, but there's in new york state law that allows unions to keep going with the contract that's -- even if it's expired, so there's no incentive for anybody to negotiate a new one. so the union gets perks
tax dollars, tax dollars, tax dollars, are being spent on facelifts and liposuction for teachers. the total bill this past year, ready for this? $2.7 million. now that is down from the year before, which was $5.2 million. how does this happen? well, it turns outs the perk is included as a ride he were in the teachers' contract, and that's raising big questions about unions and collective bargaining. we're back with our political panel. this is byron york's favorite story of the night. byron?...
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Nov 26, 2012
11/12
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FOXNEWSW
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eye 200
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. >> they have to go up either real tax rates or effective tax rates. second we have to close significant loopholes. jon: bret baier is the anchor of special report. maybe we can get an explanation from you. the republicans are talking about raising revenue but not raising tax rates. how do they do that? >> reporter: basically they close tax loopholes, they put a cap on deductions. in other words for high income earners let's say the cap was $50,000 you would take in deductions, they don't specify what specific deductions it would be but that is the cap of tax deductions you could take and there by after that point you don't get any more deductions, so the amount of taxes you pay goes up. now this is not new, jon, this is what really mitt romney and paul ryan were running on, as they talked about it they got hammered again and again for not being specific on what tax deductions and loopholes were going to close. but this was the line for the republican standard bearer, the candidate. so when you hear these senators and congressmen talking about that and
. >> they have to go up either real tax rates or effective tax rates. second we have to close significant loopholes. jon: bret baier is the anchor of special report. maybe we can get an explanation from you. the republicans are talking about raising revenue but not raising tax rates. how do they do that? >> reporter: basically they close tax loopholes, they put a cap on deductions. in other words for high income earners let's say the cap was $50,000 you would take in deductions,...
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Nov 28, 2012
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so it's not like folks who make more than 250 aren't getting a tax break too, they are getting a tax break on the first 250 just like everybody else. families and small businesses would therefore be able to enjoy some piece of mind heading into christmas and heading into the new year. and it would give us more time than next year to work together on a comprehensive plan to bring down our deficits, to streamline our tax system, to do it in a balanced way, including asking the wealthist americans to pay a little more so we can still invest in things like education, and training and science and research research. i know some of this may sound familiar to you because we talked a lot about this during campaign. this shouldn't be a surprise to anybody. this was a major debate in the presidential campaign and in congressional campaigns all across the country, and a clear majority of americans, not just democrats, but also a lot of republicans and a lot of independents agreed we should have a balanced approach to deficit reduction that doesn't hurt the economy and doesn't hurt middle class f
so it's not like folks who make more than 250 aren't getting a tax break too, they are getting a tax break on the first 250 just like everybody else. families and small businesses would therefore be able to enjoy some piece of mind heading into christmas and heading into the new year. and it would give us more time than next year to work together on a comprehensive plan to bring down our deficits, to streamline our tax system, to do it in a balanced way, including asking the wealthist americans...
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Nov 29, 2012
11/12
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one is the bush tax cuts are expiring. we want to make sure they stay the same for 98% of the people and just those over $250,000 will go back to the clinton rates. and we had the greatest prosperity under bill clinton. and everybody knows that. 23 million jobs, balanced budgets, all the rest. it's not going to hurt anything. the second thing, the automatic spending cuts. so my view is we can climb down that cliff by doing what the president says on taxes, bringing home the money from the wars, and stopping those automatic cuts. we're off the cliff. and then we get together with goodwill, right in january with the new senate and the new house, and we hammer out the long-range solutions to all this. >> i want to you listen to something that your colleague, pattie murray, from washington state said on alex wagner's show about this fiscal cliff and her attitude toward it. i want to you react to it. >> sure. >> it's not a good idea to go over the fiscal cliff. no one wants to see that happen. it is a bad idea. but a worse idea
one is the bush tax cuts are expiring. we want to make sure they stay the same for 98% of the people and just those over $250,000 will go back to the clinton rates. and we had the greatest prosperity under bill clinton. and everybody knows that. 23 million jobs, balanced budgets, all the rest. it's not going to hurt anything. the second thing, the automatic spending cuts. so my view is we can climb down that cliff by doing what the president says on taxes, bringing home the money from the wars,...
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Nov 27, 2012
11/12
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everybody's talking about increasing the tax -- tax revenue on the rich. why aren't we talking about cutting the spending? how about, first of all, we start with a budget that harry reid under his leadership in the senate has not passed a budget in over three years. so to cut, you have to have a budget. and then let's start with the cuts that were promised to reagan and george h.w. bush that never came through. when they gave the tax increases and the cuts never came through. let's start there and let's go forward. >> amy kremer, thanks for coming on the program. >> thanks for having me. >>> more protests in egypt. hours before a huge rally against mohamed morsi. many had been camping out for the demonstration against the president who issued several decrees last week that gives him almost absolute power. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9
everybody's talking about increasing the tax -- tax revenue on the rich. why aren't we talking about cutting the spending? how about, first of all, we start with a budget that harry reid under his leadership in the senate has not passed a budget in over three years. so to cut, you have to have a budget. and then let's start with the cuts that were promised to reagan and george h.w. bush that never came through. when they gave the tax increases and the cuts never came through. let's start there...
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Nov 21, 2012
11/12
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very little movement on tax rates next year. very little movement on spending generally a slight decrease. lou: no movement, are using the bush tax cuts will be allowed to expire? >> no. what i'm saying is that the bush tax cuts, but for a slight modification will persist in 2013. spending reductions, which were made by the forced sequester will not be made in the amount suggested and will be only modest, and it will be a reduction in spending it will be a modest reduction in the rate of increase in spending such the we will have a $1 trillion plus deficit next year. more of the same. lou: as always. >> thank you. lou: up next to illegal immigrants wants new privileges because, i hate to tell you, it looks like pandering is contagious. imagine that. and forget susan rice. not the plot -- the biggest problem with this administration we will demonstrate to you the gaping holes in the benghazi time line and some extraordinary coincidences in the patraeus time line in the "chalk talk"e e next. fotheir annual football trip. that's do
very little movement on tax rates next year. very little movement on spending generally a slight decrease. lou: no movement, are using the bush tax cuts will be allowed to expire? >> no. what i'm saying is that the bush tax cuts, but for a slight modification will persist in 2013. spending reductions, which were made by the forced sequester will not be made in the amount suggested and will be only modest, and it will be a reduction in spending it will be a modest reduction in the rate of...
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Nov 22, 2012
11/12
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he is entertaining revenue increases as he puts it, tax hikes. and we still don't know what the president is bringing to the table do we? >> no, i must tell you, lizzy, i hear you and we think about it, we may think that kicking the can down the road, as a political solution, as a economic solution that could be an armageddon. i don't want to be an alarmist. lou: well armageddon would not alarm any of us. >> looking at congress it scares me. lou: congress is a scary proposition. jerry? any indication of president's bargaining position? >> well, here congress is doing, and they are looking at, it might not be a bad idea depending on what you think your party is doing by kicking can down the road you get into a midterm election yearr so these issues will be front and center, and midterm republicans will do well. we're a right of center country. lou: did i hear you forecast how republicans are doing in midterms? >> by kicking the can down the road, i hate that term. lou: i am taking it up with hizy mcdonald tonight right now for kicking that can. >>
he is entertaining revenue increases as he puts it, tax hikes. and we still don't know what the president is bringing to the table do we? >> no, i must tell you, lizzy, i hear you and we think about it, we may think that kicking the can down the road, as a political solution, as a economic solution that could be an armageddon. i don't want to be an alarmist. lou: well armageddon would not alarm any of us. >> looking at congress it scares me. lou: congress is a scary proposition....
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Nov 23, 2012
11/12
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tax. why? because hispanics remain at the lower level of the economic planner, and they use government welfare programs at a very high rate. lou: i welcome this discussion, now being started by the republicans on reforming our immigration laws someone. but i hope that there is not a rush to judgment that somehow moves across this vast sea of facts and realities that have been avoided by both political parties. the american people really need to understand what is happening. the hispanic community needs and understand what is hapening. the idea that you are broaching here that this country should be selecting those it brings into the united states based on their skills, talents, that is going to be a tough sell minette land bridges there down south. >> absolutely, and that is why amnesty is very risky because it means that stopping the flow of illegal aliens from that land bridge is going to be even more difficult. lou:f there is to be an amnesty, it will be the third in the last 26 years.
tax. why? because hispanics remain at the lower level of the economic planner, and they use government welfare programs at a very high rate. lou: i welcome this discussion, now being started by the republicans on reforming our immigration laws someone. but i hope that there is not a rush to judgment that somehow moves across this vast sea of facts and realities that have been avoided by both political parties. the american people really need to understand what is happening. the hispanic...
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Nov 24, 2012
11/12
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let's have income taxes at 15%, gift taxes at 15%. let's make sure that warren buffett probably starts paying not just like a secretary, a proper percentage. what has been proposed will not have warren buffett paying this percentage. let's have a flat tax. take him at his word and if you make more common you will pay more, not the only way it will happen. lou: the president himself may have been talking to you or steve forbes. >> this is a great time. not only that, let's not forget that the last time that the senate had a budget is when harry reid worked with his friend, and nobody in the 2008 budget complained that they weren't spending enough money. that cuts out a trillion in spending right there. are you concerned about the time that they had taken have taken on this first day of the discussion? >> i was not hopeful that the president's tone. [talking over each other] [talking over each other] lou: are you being partisan here? >> i am not being partisan. i am being objective when i say that the president pays 1.6 trillion in new
let's have income taxes at 15%, gift taxes at 15%. let's make sure that warren buffett probably starts paying not just like a secretary, a proper percentage. what has been proposed will not have warren buffett paying this percentage. let's have a flat tax. take him at his word and if you make more common you will pay more, not the only way it will happen. lou: the president himself may have been talking to you or steve forbes. >> this is a great time. not only that, let's not forget that...
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Nov 25, 2012
11/12
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let's have income tax, 15%, gift taxes, 15%, let's make sure that warren buffett finally starts paying at least as much as his secretary, in the percentage, and, what has been proposed, here, by the president, will not have warren buffett paying the same as his secretary, in percentage. let's have a flat tax, lou. let's take the president at his word. if you make more you will pay more and this i thenly way that that is going to happen. >> lou: you know, i believe the speaker boehner, perhaps the president himself may have been talking to you, talking to steve forbes and others who talked about theossibility of reforming the entire tax code. that could -- >> this is a great time. you know, the kind of time... and, not only that, let's don't forget the last time that the senate had a budget, it was when harry reid worked with his friend, speaker pelosi and nobody in the 2008 budget complained that it wasn't spending enough money. let's go back to 2008. $2.5 trillion, and cuts off a trillion in spending, right there. >> lou: there are all sorts of ways to get there, as you suggest here t
let's have income tax, 15%, gift taxes, 15%, let's make sure that warren buffett finally starts paying at least as much as his secretary, in the percentage, and, what has been proposed, here, by the president, will not have warren buffett paying the same as his secretary, in percentage. let's have a flat tax, lou. let's take the president at his word. if you make more you will pay more and this i thenly way that that is going to happen. >> lou: you know, i believe the speaker boehner,...
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Nov 29, 2012
11/12
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why don't you be responsible and raise taxes, put your finger prints on a tax increase to pay for our bigger government. republicans said no. harry reid has had a hissy fit for four years now, i'm happy the republicans would not raise taxes to pay for is bigger government. the problem is the american people don't want their taxes raised. lou: what i asked was how you feel? >> i am pleased as punch. harry reid, at haing a hissy fit at me, he's really mad at the ameican people for not wanting to raise axes. he personalizes it with me. lou: what about those folks like senator john mccain, senator lindsay gramm, senator chambliss the list goes on. i mea -- >> it doesn'go on. it does not go on. here's theood news. all the people who last week and said we might raise taxes under certain circumstaes with the same people who said that two years ago. and everyews dia outlet in the country has said the last week, would you like to be famous? would you like to be called important and influential? come to our tv station and announced u areefor tax increases and we will tell everyone you are impor
why don't you be responsible and raise taxes, put your finger prints on a tax increase to pay for our bigger government. republicans said no. harry reid has had a hissy fit for four years now, i'm happy the republicans would not raise taxes to pay for is bigger government. the problem is the american people don't want their taxes raised. lou: what i asked was how you feel? >> i am pleased as punch. harry reid, at haing a hissy fit at me, he's really mad at the ameican people for not...
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Nov 23, 2012
11/12
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tax giving tax cuts to people --out melissa: talking about raising a taxes, i agreegr with you. we have to have people investing, buying, so raising taxes on anyone is then super i crazy. >> yeah, buts if you take tax increases on people spendingss less because th already got aof whole bunch of money and investing in ways to get people who do not have as much to spend more, that's efficient. that makes sense. go ahead.ney. melissa: rich people spend a lot of money. >> thehave the money, they are spending it.they they will not spend less because they have a marginal tax rate increase. it's not like all the sudden, you know, bloomberg or romney says we can't go to dinner next week. they will still spend money. it's a matter of saying how doho we get people who are not at that level to have conditions where they can spend. melissa: in the 80s, they lower tax rates issuend revenues go up, and revenues, 1981 to 1988, from $599 billion to $909 # billion. i'm just saying if the problem's revenue and you want more money in treasury, there seems that's a period of time we did it ti defen
tax giving tax cuts to people --out melissa: talking about raising a taxes, i agreegr with you. we have to have people investing, buying, so raising taxes on anyone is then super i crazy. >> yeah, buts if you take tax increases on people spendingss less because th already got aof whole bunch of money and investing in ways to get people who do not have as much to spend more, that's efficient. that makes sense. go ahead.ney. melissa: rich people spend a lot of money. >> thehave the...
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Nov 26, 2012
11/12
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let's tax the wealthy. well, what is wealthy? sunday that as 10 million in the bank, had a good year. there is not a clear picture of what the definition of that is. melissa: even if they are in danger, but this does not hurt the warren buffett's of the world and that they don't mind it, but a whole bunch of people who have saved for retirement under trying to live off those investments and dividends. it's going to hurt them instead. i don't lose sleep over that. but we do worry about the much smaller investor, maybe he doesn't impact the market where you think. they share care about this. >> that is entirely reasonable position to take, but it is also a little bit, let's say condescending to think that those people don't know what is best for them. melissa: i didn't say they don't know what's best for them. the amount they have available to investors less. they don't have a lot of extra dollars. >> i wasn't trying to indicate that you were saying that. those people tend to be reacting to the news that obama was reelected in a wa
let's tax the wealthy. well, what is wealthy? sunday that as 10 million in the bank, had a good year. there is not a clear picture of what the definition of that is. melissa: even if they are in danger, but this does not hurt the warren buffett's of the world and that they don't mind it, but a whole bunch of people who have saved for retirement under trying to live off those investments and dividends. it's going to hurt them instead. i don't lose sleep over that. but we do worry about the much...
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Nov 21, 2012
11/12
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in the economy, what part do taxes play in this economy. and if i could just read you one line in this entire -- >> sure thing. >> there's not a conclusive evidence to substantiate a clear relationship between the 65-year steady reduction in top tax rates and economic growth. and it goes on to be much more specific than that. the republicans did not want the american people to see this because it blows holes in the ryan budget and their camp -- it blows holes in it. and what it does is basically bring us back to reality in a much more balanced approach to try to fix this by january 1st. is it all going to be fixed by january 1st? i don't think so. am i hopeful? well, we had a bipartisan meeting friday. democrats and republicans on the ways and means committee. the question is the leadership may be with us in trying to get this resolved, they have to look to their leadership, they have to look to mr. boehner to see if they would be willing to put this up, a balanced approach of cuts to future expenditures as well as increasing the rates for
in the economy, what part do taxes play in this economy. and if i could just read you one line in this entire -- >> sure thing. >> there's not a conclusive evidence to substantiate a clear relationship between the 65-year steady reduction in top tax rates and economic growth. and it goes on to be much more specific than that. the republicans did not want the american people to see this because it blows holes in the ryan budget and their camp -- it blows holes in it. and what it does...
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Nov 28, 2012
11/12
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keeping the bush tax cults for 98% of americans, give up on keeping tax cuts low for the wealthy, 2%. take a listen to what cole on capitol hill had to say moments ago. >> in my view, we all agree that we're not going to raise taxes on people who make less than $250,000. we should take them out of this discussion right now and continue to fight against any rate increase, continue to try to work honestly for a much bigger deal. >> has the tipping point been reached, sir? is the compromise in front of us right now because so many republicans are willing to talk act revenue? >> well, look. tom cole, who is a friend of mine, was the former chairman of the republican congressional campaign committee. i am the current chairman of the democratic congressional campaign committee. anytime you can get the former republican congressional campaign committee chair and the current democratic congressional committee democratic chair to agree on something, do it, pass it. tom cole is right. this is why people are frustrated with washington. everybody on capitol hill agrees on this fact at least, that
keeping the bush tax cults for 98% of americans, give up on keeping tax cuts low for the wealthy, 2%. take a listen to what cole on capitol hill had to say moments ago. >> in my view, we all agree that we're not going to raise taxes on people who make less than $250,000. we should take them out of this discussion right now and continue to fight against any rate increase, continue to try to work honestly for a much bigger deal. >> has the tipping point been reached, sir? is the...
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Nov 29, 2012
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here in missouri, the state will take about 4% in taxes. in arizona, about 5% this taxes. plus there's the federal taxes that are all involved. but really at the end of the day, who is complaining. when you have so many millions of dollars as a winner, giving the government some of it is no big deal because there's no way one person or even a group people could ever spend this much money in a lifetime. >> kerry reporting from columbia. we'll let you get back on the record to dearborn. >> we'll go find the winner and see what he tells us he'll do with the money. >> maybe he can buy you lunch and replace the $2 that you just threw away. >> that was my lunch money yesterday. i'm hitting you up. >> i'll get you lunch no problem. thank you, sir. >>> so i want you to look at this picture because you are now meeting the republican committee chair men. emphasis on men. made wliselissa harris perry so off on whether gop learned anything from the election. and now to john boehner. >> -- sending the economy over the fiscal cliff. two weeks ago we had a very productive conversation at
here in missouri, the state will take about 4% in taxes. in arizona, about 5% this taxes. plus there's the federal taxes that are all involved. but really at the end of the day, who is complaining. when you have so many millions of dollars as a winner, giving the government some of it is no big deal because there's no way one person or even a group people could ever spend this much money in a lifetime. >> kerry reporting from columbia. we'll let you get back on the record to dearborn....
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Nov 21, 2012
11/12
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nicole: just thinking about a state tax. if you die better the next year, let's talk about scatter, popular footwear. the financial group raising their ratings on the issuemaker. they talked earlier that the stock was ahead of the fundamentals and they are changing their tune and that is why you are seeing the stock up 12% so they upgraded the positive from neutral, talking about momentum continuing to increase across their product categories heading into 2013. this is good news and they are beginning to see the modest outperforming in the current quarter and a good outlook for 2013. and an up arrow over $2 to the upside. cheryl: thank you very much. see you soon. a terror attack in israel. obama on a bus in tel of the. reports of the cease-fire may be imminent. first as we go to break with the world's currencies. the u.s. dollar. cheryl: breaking news. as the muddling fox news to expect israel to announce a unilateral cease-fire late tonight or early tomorrow. this from fox's lehman from southern israel. >> almost sounds li
nicole: just thinking about a state tax. if you die better the next year, let's talk about scatter, popular footwear. the financial group raising their ratings on the issuemaker. they talked earlier that the stock was ahead of the fundamentals and they are changing their tune and that is why you are seeing the stock up 12% so they upgraded the positive from neutral, talking about momentum continuing to increase across their product categories heading into 2013. this is good news and they are...
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Nov 27, 2012
11/12
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especially the division of the tax revenue. i think the bigger picture the when will spain formally ask for aid? many people thought it would take place already. ashley: yeah. >> my best guess doesn't take place until later q1 next year when the spain has record refinancing it has to do. that is when a weak economy, interest rates rising, they have to sell more paper. that is when they're forced to get --. ashley: get that money. yeah. quickly with the fiscal cliff, what impact if any does it have on the dollar? >> on the short run probably nothing. as we're watching it, i think people are a bit hesitant getting too long the dollar. in this case too short of the euro. i think in the bigger picture i see a win-win situation for the dollar. we go over the fiscal cliff, bad news. ashley: yeah. >> world's biggest economy headed for another recession. i think dollar benefits as a safe haven currency. we avoid going over the fiscal cliff or go over the fiscal cliff for short period of time people focus on the u.s. for a bit because e
especially the division of the tax revenue. i think the bigger picture the when will spain formally ask for aid? many people thought it would take place already. ashley: yeah. >> my best guess doesn't take place until later q1 next year when the spain has record refinancing it has to do. that is when a weak economy, interest rates rising, they have to sell more paper. that is when they're forced to get --. ashley: get that money. yeah. quickly with the fiscal cliff, what impact if any...
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Nov 29, 2012
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paying more taxes. that will go up in january. cheryl: it will be interesting. protesters in each of force the u.s. embassy in cairo to shut down. up-to-the-minute coverage ahead. dennis: it is illegal to smoke pot in two western states, but we will tell you why employers can still fire you for doing it. cheryl: that makes sense, right? would you pay more for vitamin c in showers or aromatherapy? we will talk to the man behind the stay well hotel concept. dennis: as we do every day this time, here is looking at her, why that the cme with that. [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find e right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom hel you get personalized and
paying more taxes. that will go up in january. cheryl: it will be interesting. protesters in each of force the u.s. embassy in cairo to shut down. up-to-the-minute coverage ahead. dennis: it is illegal to smoke pot in two western states, but we will tell you why employers can still fire you for doing it. cheryl: that makes sense, right? would you pay more for vitamin c in showers or aromatherapy? we will talk to the man behind the stay well hotel concept. dennis: as we do every day this time,...
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Nov 29, 2012
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far as tax reform, come up with more tax revenue. melissa: thank you so much for your input, peter barnes. lori: what is on the menu? got to give a shout out. there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging americans to tweet their support for using the hash tag mo farah, as in my $2000, raised taxes on somebody else. now my2k has become a way to trash obama and cheering at the democrats. they been acquired sponsorship rights for my2k, they often see paid messages opposing the obama tax hikes. they run the gamut. some talk about the sudden switch to now playing up keeping tax cuts for everyone else. others make fun of my2k origins. a few samples. obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they hel
far as tax reform, come up with more tax revenue. melissa: thank you so much for your input, peter barnes. lori: what is on the menu? got to give a shout out. there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging...
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Nov 21, 2012
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if you think about incentives for investment in new technologies, the tax credit, tax credit for solar and wind power. some of that is actually helpful. >> you're being far too reasonable. far too reasonable. >> now, some -- wait a second. let me get -- i don't know if it's unreasonable but let me tell you what i was about to say. if you think about oil and gas subsidie subsidies, if you think about all the profits, and this is the big money stuff that are deferred, held overseas, if you think about the ability of private equity funds to deduct interest payments on their debt finance deals, all of that is corporate welfare. so you know, there's balance here to be seen. >> now, joy, i mean, you know -- i told joy earlier, speaker boehner is tripping. he writes that the tactics are -- >> i agree. >> -- repeal efforts have to change. are you kidding me? three times they've been defeated on this. what has to change is their attitude on this. >> oh, is john boehner going to be pissed when he finds out mitt romney lost the election. if they let him out of that time machine, he might be somet
if you think about incentives for investment in new technologies, the tax credit, tax credit for solar and wind power. some of that is actually helpful. >> you're being far too reasonable. far too reasonable. >> now, some -- wait a second. let me get -- i don't know if it's unreasonable but let me tell you what i was about to say. if you think about oil and gas subsidie subsidies, if you think about all the profits, and this is the big money stuff that are deferred, held overseas,...
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Nov 26, 2012
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revenues and raising tax rates. i get it. but do your constituents get it? >> isn't this where i'm supposed to confess my sins to my preacher. >> when you have four people dead, how do you call that hype? >> how many security contractors died in iraq. do you know? >> i don't. >> as u.n. ambassador, she has an obligation not just to be a puppet. >> when i see this focus on what was essentially a small fire fight, it's impossible to figure out what happens on them sometimes. >> she could conceivably get your vote. >> the emphasis has been extremely political probably because fox was operating as a wing of the political party. >> tom ricks, thank you for joining us. >> as far as young women are concerned, i can state my position on abortion. other than that leave the issue alone. >> 20 hail marys, 20 our fathers. ja let's get to our fanl. ana marie cox is a correspondent for "the guardian," and msnbc political analyst karen finney. karen, we just heard senator john mccain a moment ago in "top lines" saying, okay, from
revenues and raising tax rates. i get it. but do your constituents get it? >> isn't this where i'm supposed to confess my sins to my preacher. >> when you have four people dead, how do you call that hype? >> how many security contractors died in iraq. do you know? >> i don't. >> as u.n. ambassador, she has an obligation not just to be a puppet. >> when i see this focus on what was essentially a small fire fight, it's impossible to figure out what happens on...
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america who can afford to do so to pay a little more in taxes. but when you start talking about some kind of grand bargain where you're cutting medicare and medicaid, we're talking about people's lives and health care. this is part of the reason why the president doesn't want social security to be part of it. why folk on the left are still angry that something like medicare or medicaid are sort of used as false equivalencies with tax increases. we have to think about people's real lives and health care really addresses those issues versus wealthy folk paying a little more. >> david, if that's the case, if professor peterson is right, why then did the president when he was in the process of negotiating a grand bargain with speaker boehner, agree to suggest or even imply that, for example, the age of qualification for certain of these entitlements would go up? >> the president has decided that the way to deal with this overall, i'm not saying this is right or wrong, is that we have divided government which means we're going to try to take care of t
america who can afford to do so to pay a little more in taxes. but when you start talking about some kind of grand bargain where you're cutting medicare and medicaid, we're talking about people's lives and health care. this is part of the reason why the president doesn't want social security to be part of it. why folk on the left are still angry that something like medicare or medicaid are sort of used as false equivalencies with tax increases. we have to think about people's real lives and...
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during the clinton administration, tax -- top tax rate was 39.6% and the economy took off. let's do that again. >> as we hear earlier mitt romney will be at the white house tomorrow. he obviously doesn't need to worry about my2k because his is worth more than $100 million. what's the understanding of this meeting? we understand paul ryan will be there as well. >> i think the president wants to strike a bipartisan note. romney no longer has to mullify the right wing of his paerd. he doesn't have strong feelings about much of anything at all. is it possible he could come out and bless what these business executives have been calling for, which is the president's balanced approach? anything's possible with mitt romney. and i think it very much makes sense for the president to extend an olive branch. you can say that -- >> but i thought mitt romney was -- hang on a second. i thought mitt romney was the one who proposed and espoused the notion of closing loopholes as the only way -- >> we know he's a flip-flopper. we don't have to -- >> that's true. >> he actually does -- it's e
during the clinton administration, tax -- top tax rate was 39.6% and the economy took off. let's do that again. >> as we hear earlier mitt romney will be at the white house tomorrow. he obviously doesn't need to worry about my2k because his is worth more than $100 million. what's the understanding of this meeting? we understand paul ryan will be there as well. >> i think the president wants to strike a bipartisan note. romney no longer has to mullify the right wing of his paerd. he...
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i'm the anti-tax guy, and 98% of the people in the republican caucus are the anti-tax guy. we think americans are taxed too much. and if you want us to vote to raise to increase taxes, then you're going to have to come with a lot of spending cuts. thatst the b 's the basis of his power. >> there will be tax increases and a lot of republicans will vote for them. you can call them revenue changes. last year before the election, john boehner was on the record in negotiations with the president saying we'll increase revenue by 800. all that means is you're raising taxes. >> they're not going to do that without a lot of cuts, are they? >> no, no, they're going to probably get cuts, the size of sequestration, which is $1.2 trillion, which is exactly the size of the tax increase that the president's going to demand. >> that's where grover's not unique. you've got people protecting medicare, other entitlements, max baucus saying you can't touch the estate tax. and at the end of the day, do you have a deal here? >> just to underline this, willie, grover is not the nra, doesn't have
i'm the anti-tax guy, and 98% of the people in the republican caucus are the anti-tax guy. we think americans are taxed too much. and if you want us to vote to raise to increase taxes, then you're going to have to come with a lot of spending cuts. thatst the b 's the basis of his power. >> there will be tax increases and a lot of republicans will vote for them. you can call them revenue changes. last year before the election, john boehner was on the record in negotiations with the...
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would be or a sense of what -- big taxes -- what dividend taxes would be. largely because we are accountable, not to you and i but accountable to a huge number of shareholders and -- >> including unions and endowments and including a public university endowments et cetera, but i do think there is a big and legitimate argument they're making about certainly and if they got it, then i think your argument is spot-on. congress and the government is given certainty. >> get over it. get moving. >> if there was one word that defined the top companies, the top leadership you're talking about, boardrooms over the last two years, it was uncertainty. we all heard it. uncertainty. uncertainty -- well, guess what, there's going to be certainty now and that's good. >> we need demand on top of that because then they need the actual business to come back and starting to see that. if you look at what happened over the thanksgiving weekend. black friday sales were strong almost everywhere. everybody is expecting it to be a great holiday season. >> you're not good at math? >>
would be or a sense of what -- big taxes -- what dividend taxes would be. largely because we are accountable, not to you and i but accountable to a huge number of shareholders and -- >> including unions and endowments and including a public university endowments et cetera, but i do think there is a big and legitimate argument they're making about certainly and if they got it, then i think your argument is spot-on. congress and the government is given certainty. >> get over it. get...
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they'll also be gone with the middle-class tax cuts. two years ago the republicans tried to hold the president hostage and said listen, if you don't give us the bush high-end tax cuts we're not giving you the middle-class tax cuts. the president ju jitsued that into a second stimulus. the president this time around has a little advantage. he can let all tax cuts expire on december 31st which is what democrats are advocating, first week in januariry when the congress comes back in, he can say, guys, we have 98% of the public i want to give tax cuts to right now, we can keep arguing about the top 2 but do this right now for the 98%. how come you're not with me on this? that's i think is a card for him to play heavy and gives him an advantage over the spending cuts and debt ceiling issues that will come up. >> justin, let's talk a little bit about the effects of a tax cut for high-income earners on the economy. there is this supposition, in fact i would call it bedrock republican philosophy economically speaking if you cut rates for top ea
they'll also be gone with the middle-class tax cuts. two years ago the republicans tried to hold the president hostage and said listen, if you don't give us the bush high-end tax cuts we're not giving you the middle-class tax cuts. the president ju jitsued that into a second stimulus. the president this time around has a little advantage. he can let all tax cuts expire on december 31st which is what democrats are advocating, first week in januariry when the congress comes back in, he can say,...